Richard and Nikunu discuss what an invoice is.
There is little understanding that an invoice is a Bill that has to be paid. This came up in the conversation about Purchase Orders and immediately realised there was another English term that needs to be explained. It was discussed how an invoice might be connected to a warranty.
The difference between invoices and tax invoices is explored and how they are connected to the GST.
Nikunu asks who should be concerned about them tax invoices. It is mentioned that most people do not need to be concerned about keeping their tax invoices except if you want to be able to prove warranty or purchase. But every business person has to keep all their tax invoices for 5 years. That is why an employer might say to make sure you get the tax invoice for the taxi or the shop if you want to be reimbursed for something you bought for the company. If you do not keep all the tax invoices then the company or business owner will have to pay more tax to the government.
There are 4 Stories in this podcast see below time stamps.
- What is an invoice? – 00:00
- Invoice and Tax Invoice – 8:39
- Invoice and Tax Invoice – 18:43
- Tax Invoice who has to worry about them? – 28:51